Parallel Advisors LLC Has $142,000 Position in Archer Aviation Inc. $ACHR

Parallel Advisors LLC grew its holdings in Archer Aviation Inc. (NYSE:ACHR) by 167.0% during the second quarter, Holdings Channel.com reports. The firm owned 13,073 shares of the company’s stock after acquiring an additional 8,176 shares during the period. Parallel Advisors LLC’s holdings in Archer Aviation were worth $142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ACHR. Ameriprise Financial Inc. boosted its stake in Archer Aviation by 106.4% in the fourth quarter. Ameriprise Financial Inc. now owns 45,902 shares of the company’s stock worth $448,000 after purchasing an additional 23,661 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Archer Aviation in the fourth quarter worth $2,877,000. Vident Advisory LLC acquired a new position in Archer Aviation in the fourth quarter worth $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Archer Aviation by 62.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company’s stock worth $5,446,000 after purchasing an additional 215,593 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Archer Aviation during the fourth quarter worth $27,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Up 4.8%

ACHR stock opened at $10.01 on Wednesday. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $9.81 and a two-hundred day moving average price of $9.39. The company has a market cap of $6.45 billion, a price-to-earnings ratio of -7.41 and a beta of 3.07. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). Analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of recent research reports. Canaccord Genuity Group restated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, UBS Group restated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the transaction, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. This trade represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tosha Perkins sold 42,775 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares of the company’s stock, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,964 shares of company stock valued at $2,865,206 in the last ninety days. 7.65% of the stock is owned by company insiders.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.